The USDCAD breaks the support – Analysis - 24-02-2021
Economies.com
2021-02-24 05:24AM UTC
The USDCAD pair managed to break 1.2589 and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming period, opening the way to head towards our next target at 1.2527, noting that surpassing this level will extend the bearish wave to reach 1.2400 areas.
The EMA50 keeps pressing negatively on the price to support the chances of continuing the decline on the intraday and short-term basis, noting that the continuation of the bearish wave requires holding below 1.2640.
The expected trading range for today is between 1.2500 support and 1.2640 resistance.
The expected trend for today: Bearish
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